December 23, 2015 Comments Off on $1B Related Cos. Fund Spurs Major Investor Interest Views: 600 California News, Illinois, Midwest, National News

$1B Related Cos. Fund Spurs Major Investor Interest

The Related Cos. intended to raise $850 million for a new operator-sponsored opportunity fund, but even better, the fund reportedly collected $1 billion due to major interest from investors both in the United States and overseas. Corporations, sovereign-wealth funds, endowments and foundations are some of the players who have invested in the fund. 

Related Real Estate Fund II will target under-performing properties in urban markets and gateway cities, including Boston, Chicago, Los Angeles, Miami, New York City and San Francisco. Utilizing Related’s fully-integrated real estate platform, they will transform these assets through conversion, renovation or repositioning.

Justin Metz, managing principal of Related Fund Management, which was launched in 2009, said that many investments have already been made, including the luxury apartment complex of 111 West Wacker Drive in Chicago.

Read More at Real Estate Weekly

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